Half-a-billion euros in social benefits for first six months

Social security benefits have cost taxpayers €512 million in the first six months, figures out today show.

This represents an increase of €15.2 million, or 3%, over the same period last year, the National Statistics Office said.

An increase of €15.2 million in contributory benefits was partially offset by a decrease of €0.2 million in non-contributory expenditure.

A growing number of pensioners receiving a two-thirds pension was the main driver behind the increase in contributory benefits. The outlay on two-thirds pension increased by €13.1 million on the back of 2,000 more pensioners who reached retirement age.

Non-contributory benefits spending amounted to €96.7 million, which is 0.2% lower than 2018.

Total social assistance registered the biggest drop in expenditure of €3.1 million, while minor drops were reported in supplementary assistance (€0.3 million) and Child Allowance (€0.1 million).

In contrast, increased outlay was reported under disability pension (€1.5 million), old age pension (€1.3 million), in-work benefit (€0.4 million) and medical assistance (€0.1 million).

Social security beneficiaries

During the first six months of 2019, the two-thirds pension registered the largest cohort of recipients at 49,770 persons, coupled with the biggest year-over-year rise of 1,957.

On the other hand, the national minimum widows’ pension reported the largest drop in beneficiaries with 433 less persons reported than the corresponding period of 2018.